Market Report – April 2014
Naples, Bonita, Estero Market Area
This monthly Naples Florida real estate market report is produced by Dustin Beard and his team of real estate professionals. If you would like to be updated on monthly basis with the trends of the real estate market in Naples, Florida, please subscribe to my newsletter or contact me directly.
LISTED, PENDED, CLOSED YEAR TO DATE APRIL 2014
LISTED, PENDED, CLOSED MONTH OF APRIL 2014
BREAKDOWN BY PRICE CATEGORY YEAR TO DATE APRIL 2014 (This chart shows the percentage of the market represented by each price segment).
- Closed sales greater than $1.0 million represent 10% of the real estate sales in the first four months of 2014. Closed sales in the month of April 2014, greater than $1.0 million, are the highest since April 2005 (168 sales-April 2014 and 176-April 2005).
- The number of closed sales through April is the highest on record for the period.
- Sales greater than $5.0 million are at the highest level in the past ten years (24 sales) with an increase in sales volume of 80% over same period 2013.
- April 2014 pended transactions increased 17% over April 2013. Year-to-date, pended transactions for the period are at the highest level on record, exceeding the first four months of 2005.
- Price categories with the highest increase in the number of pended sales were the $750,000 – $1.0 million range (up 39%) and those priced between $2.0 million and $5.0 million (up 58%).
- On May 1, 2014, available inventory in the combined Naples, Bonita Springs and Estero market stands at 5,355 units (2,471 condominiums and 2,884 single family homes). This represents a 5.2 month supply based on the number of closings in the past 12 months.
- The highest reductions in available inventory from the prior year occurred in condominiums priced between $2.0 million and $5.0 million (down 59%) and single family homes priced between $750,000 and $1.0 million (down 19%).